EUR 3.72 For Business Accounts Only

Pakistan Auto industry sales up 7%YoY in Apr’17

• Pakistan’s Auto Industry sales posted a growth of 7%YoY in Apr’17, driven mainly by growth in passenger car sales (16,390 units, up by 9% YoY). Standout performances were recorded by HCAR’s Civic and PSMC’s Wagon-R.

• Tractor sales posted a phenomenal 71% YoY growth in 10MFY17, reaching a total of 44,321 units. For Apr’17, growth was largely driven by MTL with sales of 4,034 units, up by 65% YoY.

• We believe that growth in auto sales would continue to thrive in the near term amid introduction of new variants/models. Highly conducive environment for auto sales, backed by soft interest rates, remains a cherry on top. Fiscal measures like taxi/tractor scheme may be the next major trigger for the sector in the short run.